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GenMark Diagnostics, Inc. (GNMK), a molecular diagnostics company, develops and commercializes molecular panels based on its proprietary eSensor electrochemical detection technology.
It provides ePlex instrument and respiratory pathogen panel, which integrates automated nucleic acid extraction and amplification with its eSensor technology to enable operators using ePlex system to place patient sample directly into its test cartridge and obtain results.
The company offers XT-8 instrument, and related diagnostic and research tests, as well as certain custom manufactured reagents to support a range of molecular tests with a workstation and disposable test cartridges.
It also provides diagnostic tests for use with its XT-8 system that includes respiratory viral panel, cystic fibrosis genotyping test, thrombophilia risk test, a warfarin sensitivity test, and hepatitis C virus genotyping test and associated custom manufactured reagents, as well as 2C19 genotyping test.
The company sells its products through direct sales and technically specialized service organization in the United States and Europe.
GenMark Diagnostics reported a 1st Quarter March 2020 loss of $0.04 per share on revenue of $38.7 million. The consensus estimate was a loss of $0.16 per share on revenue of $32.9 million. Revenue grew 79.9% on a year-over-year basis.
The company said it expects 2020 revenue of $120.0 million to $130.0 million. The company's previous guidance was revenue of $112.0 million to $122.0 million and the current consensus estimate is revenue of $112.8 million for the year ending December 31, 2020.
GenMark is to participate in upcoming investor conferences, which should boost the momentum along its "bullish cup and handle", pushing shares higher.
Entry point: $18.50
52-week trade range: $3.36 - $19.83
Stop/Loss: $17.50
Target Price: $20.35
GNMK closed at $12.50
